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Department Stores - Global Market Trajectory & Analytics

  • ID: 992771
  • Report
  • May 2020
  • Region: Global
  • 453 Pages
  • Global Industry Analysts, Inc
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Amid the COVID-19 crisis and the looming economic recession, the Department Stores market worldwide will grow by a projected US$147.8 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.7%. Department Stores, one of the segments analyzed and sized in this study, is forecast to grow at over 3.7% and reach a market size of US$654.3 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Department Stores market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 2.4% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$3.6 Billion to the region's size over the next 7 to 8 years. In addition, over US$3.8 Billion worth of projected demand in the region will come from Rest of the European markets. In Japan, the Department Stores segment will reach a market size of US$36 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Department Stores market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 7.1% over the next couple of years and add approximately US$47 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Department Stores market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

Debenhams Retail PLC, House of Fraser, J.C. Penney Co, Inc, Macy's, Inc, Sears Brands LLC
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Global Competitor Market Shares
Department Stores Competitor Market Share Scenario Worldwide (in %): 2019 & 2028
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE
TABLE 1: Department Stores Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
TABLE 2: Department Stores Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019
TABLE 3: Department Stores Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
Market Analytics
TABLE 4: United States Department Stores Market Estimates and Projections in US$ Million: 2020 to 2027
TABLE 5: Department Stores Market in the United States: A Historic Review in US$ Million for 2012-2019
CANADA
TABLE 6: Canadian Department Stores Market Estimates and Forecasts in US$ Million: 2020 to 2027
TABLE 7: Canadian Department Stores Historic Market Review in US$ Million: 2012-2019
JAPAN
TABLE 8: Japanese Market for Department Stores: Annual Sales Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 9: Department Stores Market in Japan: Historic Sales Analysis in US$ Million for the Period 2012-2019
CHINA
TABLE 10: Chinese Department Stores Market Growth Prospects in US$ Million for the Period 2020-2027
TABLE 11: Department Stores Historic Market Analysis in China in US$ Million: 2012-2019
EUROPE
Market Facts & Figures
Market Analytics
TABLE 12: European Department Stores Market Demand Scenario in US$ Million by Region/Country: 2020-2027
TABLE 13: Department Stores Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019
TABLE 14: European Department Stores Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
FRANCE
TABLE 15: Department Stores Market in France: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 16: French Department Stores Historic Market Scenario in US$ Million: 2012-2019
GERMANY
TABLE 17: Department Stores Market in Germany: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 18: German Department Stores Historic Market Analysis in US$ Million: 2012-2019
ITALY
TABLE 19: Italian Department Stores Market Growth Prospects in US$ Million for the Period 2020-2027
TABLE 20: Department Stores Historic Market Analysis in Italy in US$ Million: 2012-2019
UNITED KINGDOM
TABLE 21: United Kingdom Market for Department Stores: Annual Sales Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 22: Department Stores Market in the United Kingdom: Historic Sales Analysis in US$ Million for the Period 2012-2019
SPAIN
TABLE 23: Spanish Department Stores Market Estimates and Forecasts in US$ Million: 2020 to 2027
TABLE 24: Spanish Department Stores Historic Market Review in US$ Million: 2012-2019
RUSSIA
TABLE 25: Russian Department Stores Market Estimates and Projections in US$ Million: 2020 to 2027
TABLE 26: Department Stores Market in Russia: A Historic Review in US$ Million for 2012-2019
REST OF EUROPE
TABLE 27: Rest of Europe Department Stores Market Estimates and Forecasts in US$ Million: 2020-2027
TABLE 28: Department Stores Market in Rest of Europe in US$ Million: A Historic Review for the Period 2012-2019
ASIA-PACIFIC
TABLE 29: Asia-Pacific Department Stores Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
TABLE 30: Department Stores Market in Asia-Pacific: Historic Market Analysis in US$ Million by Region/Country for the Period 2012-2019
TABLE 31: Asia-Pacific Department Stores Market Share Analysis by Region/Country: 2012 VS 2020 VS 2027
AUSTRALIA
TABLE 32: Department Stores Market in Australia: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 33: Australian Department Stores Historic Market Analysis in US$ Million: 2012-2019
INDIA
TABLE 34: Indian Department Stores Market Estimates and Forecasts in US$ Million: 2020 to 2027
TABLE 35: Indian Department Stores Historic Market Review in US$ Million: 2012-2019
SOUTH KOREA
TABLE 36: Department Stores Market in South Korea: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 37: South Korean Department Stores Historic Market Analysis in US$ Million: 2012-2019
REST OF ASIA-PACIFIC
TABLE 38: Rest of Asia-Pacific Market for Department Stores: Annual Sales Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 39: Department Stores Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ Million for the Period 2012-2019
LATIN AMERICA
TABLE 40: Latin American Department Stores Market Trends by Region/Country in US$ Million: 2020-2027
TABLE 41: Department Stores Market in Latin America in US$ Million by Region/Country: A Historic Perspective for the Period 2012-2019
TABLE 42: Latin American Department Stores Market Percentage Breakdown of Sales by Region/Country: 2012, 2020, and 2027
ARGENTINA
TABLE 43: Argentinean Department Stores Market Estimates and Forecasts in US$ Million: 2020-2027
TABLE 44: Department Stores Market in Argentina in US$ Million: A Historic Review for the Period 2012-2019
BRAZIL
TABLE 45: Department Stores Market in Brazil: Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 46: Brazilian Department Stores Historic Market Scenario in US$ Million: 2012-2019
MEXICO
TABLE 47: Department Stores Market in Mexico: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 48: Mexican Department Stores Historic Market Analysis in US$ Million: 2012-2019
REST OF LATIN AMERICA
TABLE 49: Rest of Latin America Department Stores Market Estimates and Projections in US$ Million: 2020 to 2027
TABLE 50: Department Stores Market in Rest of Latin America: A Historic Review in US$ Million for 2012-2019
MIDDLE EAST
TABLE 51: The Middle East Department Stores Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027
TABLE 52: Department Stores Market in the Middle East by Region/Country in US$ Million: 2012-2019
TABLE 53: The Middle East Department Stores Market Share Breakdown by Region/Country: 2012, 2020, and 2027
IRAN
TABLE 54: Iranian Market for Department Stores: Annual Sales Estimates and Projections in US$ Million for the Period 2020-2027
TABLE 55: Department Stores Market in Iran: Historic Sales Analysis in US$ Million for the Period 2012-2019
ISRAEL
TABLE 56: Israeli Department Stores Market Estimates and Forecasts in US$ Million: 2020-2027
TABLE 57: Department Stores Market in Israel in US$ Million: A Historic Review for the Period 2012-2019
SAUDI ARABIA
TABLE 58: Saudi Arabian Department Stores Market Growth Prospects in US$ Million for the Period 2020-2027
TABLE 59: Department Stores Historic Market Analysis in Saudi Arabia in US$ Million: 2012-2019
UNITED ARAB EMIRATES
TABLE 60: Department Stores Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 61: United Arab Emirates Department Stores Historic Market Analysis in US$ Million: 2012-2019
REST OF MIDDLE EAST
TABLE 62: Department Stores Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Million for the Period 2020-2027
TABLE 63: Rest of Middle East Department Stores Historic Market Analysis in US$ Million: 2012-2019
AFRICA
TABLE 64: African Department Stores Market Estimates and Projections in US$ Million: 2020 to 2027
TABLE 65: Department Stores Market in Africa: A Historic Review in US$ Million for 2012-2019

IV. COMPETITION
Total Companies Profiled: 357
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Department stores sector that enjoyed a dominant role in the retailing sector during the past decades, is witnessing a loss in share in some of the major markets including the US, western Europe, and Japan. This is mainly due to threat from counterparts, the specialized retailers, discounters, and supermarkets, which are gradually encroaching its share. Besides this, the segment faces a deteriorating business environment in form of global economic slowdown, increasing credit crunch, and cuts in consumer discretionary purchases.

Developed regions of the world, US, Europe and Japan, dominate the global Department stores sector, as reported in a recent study published by Global Industry Analysts Inc. In the United States, consumer cut down on discretionary purchases, slowing mall traffic and falling market share continued to impact department stores in 2008, making it the worst performing division within the retail sector. Loss of sales in apparel segment, the largest generator of revenues, to other retailing formats is another factor affecting all department stores. Japan is expected to be the hardest hit with decline in sales stretching for the thirteenth consecutive year. A declining population comprises a major distinctive problem affecting the country’s department store industry.

European department stores market is on the same track as other developed markets. The decline in sales is more profound in the western part. Factors affecting the department stores market include increasing competition from other retailing formats, economic slowdown and general consolidation in the industry.

Asia-Pacific and Latin America represent the fastest growing markets during the analysis period 2006-2015. Department stores in Asia-Pacific region have been until late on a fast expansion mode led by strong growth in China, and the rising value sales in other countries such as Australia, Singapore and South Korea. However, the region is expected to show moderate decline in growth due to general economic slowdown. Post 2009-2010, department stores in the region are expected to expand with a high growth rate, with China experiencing the fastest growth.

The department stores business is highly competitive with the presence of numerous players both large and small. Several factors affect the consumer’s mindset that determines the choice of a store and the degree of loyalty. These include price, product mix and assortment, service, convenience, advertising, and availability of credit. As competition intensifies, strategies need to be adopted to attract customer footfalls, improve loyalty and enhance total dwelling time. Players profiled in the study include Arcandor AG, Arnotts Ltd, Beales PLC, Debenhams Plc, Dillard’s, Inc., DWW Woolworth Germany GmbH & CO. Kg, El Corte Inglés SA, Fenwick, GALERIA Kaufhof GmbH, Groupe Galeries Lafayette, House of Fraser Ltd, JC Penney Company, Inc., John Lewis Plc, Macy’s, Inc., Marks & Spencer Group Plc, Maxeda BV, Nordstrom, Inc., Saks Fifth Avenue, Sears, Roebuck & Company, Stockmann Plc, UPIM SpA

© Global Industry Analysts, Inc., USA.
Note: Product cover images may vary from those shown
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